BYD maintained its lead in China’s new energy vehicle (NEV) market, with a 34.4 percent share of passenger NEV retail sales in September. This marked a slight decrease from the previous month but still solidified BYD’s position as the top player in the market. The company’s retail sales saw a significant increase of 50.1 percent compared to the same month last year, reaching 386,749 vehicles.
In contrast, Tesla slipped to third place in the rankings, with a 6.4 percent share of the market. Despite this, Tesla’s retail sales in China saw a substantial growth of 66 percent year-on-year, reaching 72,200 vehicles in September. The company’s Model Y crossover recorded its highest monthly sales so far this year, with 48,202 units sold, while the Model 3 sedan also saw strong performance with 23,998 units sold in September.
Overall, China’s passenger NEV market saw record retail sales of 1,123,000 units in September, representing a 50.9 percent increase from the previous year. Geely secured the second spot in the rankings with 89,479 sales and an 8.0 percent share of the market.
In the January-September period, BYD continued to dominate the NEV market with retail sales of 2,466,607 units, capturing a 34.6 percent share. Geely followed closely behind with 527,093 units sold and a 7.4 percent share, while Tesla maintained its position in third place with 460,200 units sold and a 6.5 percent share.
In the passenger car market, which includes traditional fuel vehicles, BYD also led the way with an 18.3 percent share of retail sales in September. Geely and FAW-Volkswagen secured the second and third spots with 7.7 percent and 6.9 percent shares, respectively.
Overall, the NEV market in China continues to show strong growth, with key players like BYD, Tesla, and Geely driving sales and innovation in the industry. As consumer demand for electric vehicles continues to rise, these companies are well-positioned to capitalize on the evolving market trends and technological advancements.
